Study On Innovation Of Financing System Of College Students Enterprising In China

After thirty years of market reform, by defining property rights related resources to individuals in varying degrees,Chinese economy has made tremendous achievements in the world which called China miracle. And this is accompanied by rapid growth in market size, increasingly fine division of labor-oriented, people-centered economic value of various resources rapidly.This greatly inspired different individuals engaged in entrepreneurial activities, with a view to the use of market mechanisms to achieve the potential benefits of its human resources, student population is one of the components. At present, China's economic development is faced with upgrading of industrial structure and transition to innovation-oriented country enormous challenge, the student population itself is experiencing employment difficulties embarrassment. Economic restructuring is the creation of social knowledge and application of the mechanism of transformation is the transformation of the system. Learn from the successful experience of the U.S. new economy, innovation and support a series of nested systems, in particular, is conducive to fostering human capital, expand market opportunities for participation and reduce transaction costs of financing the system, and actively guide students to start to start the promotion of employment, industrial upgrading and social innovation, perhaps the way to respond effectively to the challenges of transformation.Entrepreneurship in a market economy under the conditions of the environment to support the use of related systems, and create many types of resources the main link of the new contract net knot, to incentives and constraints related organizations to seek entrepreneurial opportunities, and provide opportunities for products and services to achieve the implicit income process. Entrepreneurship is an open system, a new start-ups access to resources and to compete in the market are inseparable from their environment background. Business environment consists of five dimensions, namely government policies and procedures, socioeconomic conditions, entrepreneurial and managerial skills, entrepreneurship and venture capital to support the non-financial support.College students are an important class of business subjects. Statistics show that China's 2010 graduating students and previous students are not employed more than 7.1 million people, but because of the constraints of a number of reasons, the development of our students are not successful venture, in which the performance of one of the most prominent venture capital financing is difficult for students . The reason one hand is the lack of social experience as students, lags behind the development of entrepreneurship education, and cultural constraints, etc.; the other hand, more importantly, the current financial system is still a government-led system, there is a certain degree of financial repression. Clearly, in this study of college students on the basis of venture capital financing, has important theoretical and practical significanceThis paper studies the use of the new institutional economics, supply and demand equilibrium model as the main analytical framework, first examine the current development of China's financial markets and venture capital financing activities for the constraints of college students, and various departments of environmental constraints on the formation of reaction The system for the supply of venture capital financing college; Second, the study of the financing system needs students, and students start with the willingness and ability characteristics, industry, distribution and entrepreneurial business cycle properties, etc., the use of structural equation modeling to analyze and evaluate college students venture capital financing system requirements, and students learn from developed countries and regions, based on the experience of venture capital financing, venture capital financing of our college students that the system for non-equilibrium economic analysis; Finally, the use of institutional change and entrepreneurial innovation theory to discuss the financing of our college system innovation motivation, direction and means, etc., for the students to build and improve our system of venture capital financing support system that meet the theoretical and practical significance of the policy recommendations.This system of supply and demand for university students, the main line of venture capital financing to credit rationing theory, theory of financial repression, financial systems change theory, contract theory and transaction cost economics theory, the use of theoretical analysis, situation analysis, comparative analysis, empirical analysis and other research methods , from the perspective of financing system needs individual characteristics of college students and higher education management system for a major business impact of human capital formation, income distribution and social opportunities for participation in open market determines the career choices of college students, and engaged in business is through the coordination of contract , and other resources to share the rental value of start-ups, start-ups in different stages of development, affordable financing transaction costs are also different, which requires a different financing system and its coordination. From the supply point of view of the financial control led to our multi-class financial services system has not been able to effectively sound. Large state-owned commercial banks are major players in the banking system. Development of small and medium banks and other financial institutions, low level. Difficult to obtain direct financing such as the stock market, venture capital is still weak, market-oriented credit guarantee and credit rating system is not perfect, these students are still mainly dependent on venture capital financing credit facilities, and specific credit market structure and credit allocation to face and other forms of constraints, in large part to enhance the company's financing transaction costs, reducing the company's rental value, is not conducive to the development of business students. Finally, from the perspective of institutions set aside institutional innovation to solve problems related to institutional arrangements, hoping to find a solution to the plight of college students venture capital financing methods. To help college students start.Based on the theory and empirical analysis, this paper argues, college students venture financing difficulties caused by the first reason is because the current management system of higher education, there are some limitations, for the cultivation of entrepreneurial human capital, the thrust should be improved, and the lack of market opportunities opening up the income distribution system incentives for human capital, lack of business, resulting in the majority of students start the rental value of enterprise level is not high; Second, students start enterprises in different stages of development require different financing system as a support to reduce the cost of the rental value of sharing;Finally, the financial regulatory system, leading diversified financial services is difficult to improve, resulting in students start-ups difficult to obtain financial support, or obtain finacing at the expense of high transaction costs.Clearly, the promotion of students start-ups have a healthy and rapid development is a systematic project, starting from the institutional innovation is a fundamental solution to the problem.This paper based on the theory of instituitional change and institutional balance in new institutional economics , integrated use of multi-disciplinary theory, explore the institutional innovation of students start-ups venture capital financing through a combination method of empirical research and normative research.That is a new perspective.From the students willingness to innovate, innovation, opportunities for innovation, capital requirements, financing environment, financing policy, financial institutions, etc., using structural equation, build a comprehensive analysis and assessment model of venture capital financing, is the main innovation of this paper, for similar the research question can learn from the analytical framework.This paper based on field research, in-depth analysis of the status of the financing needs of business students, for the empirical analysis of the business area of research is a good supplement.About our students venture capital financing, this paper formed a dynamic mechanism of system innovation,direction and basic ways of system innovation. Provide a reference and new knowledge for the effective performance of venture capital financing is an important innovation in this paper one.Although this study has theoretical significance and practical guiding significance, enslaved to personal research capacity, research conditions, and the rush of time, the scope of this study is relatively narrow,For what is entrepreneurship, what is the university business, the entrepreneurial activity and entrepreneurial activities with other groups, what the essential difference between entrepreneurial activity and even what is the fundamental difference in other economic activities, and why college students should start with special emphasis on the basic issues, not yet have a more clear understanding. Students engaged in entrepreneurial activities that affect the benefits and costs of specific constraints, students underlying business purpose or intent and other issues to be further in-depth study of the future.